(1) If a shareholder requests the company to designate an alternative transferee, the board of directors shall designate the alternative transferee and give a written notice thereof to the shareholder and the designated person, within two weeks of the request.
(2) If the board of directors fails to notify the shareholder of the designation of the alternative transferee within the period set in paragraph (1), the board of directors shall be deemed to have approved the transfer of shares.[This Article Newly Inserted by Act No. 5053, Dec. 29, 1995]